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Summary
- The Canadian cannabis industry contributed C$4.66 billion to the GDP.
- Organigram stock has returned over 136 per cent year-to-date
- Fire stock is up by 68 per cent in the last one month
Since the legalization of marijuana in October 2018, the Canadian cannabis industry has been flourishing. A research says at least 23 per cent of Canadians consume cannabis, whereas the world average is below nine per cent.
The Canadian cannabis industry contributed C$4.66 billion to the GDP as of May 2020, according to a 2020 Statistic Canada report.
In this article, we explore two popular pot stocks – Organigram Holdings Inc. (TSX:OGI) and The Supreme Cannabis Company Inc. (TSX:FIRE).
Organigram is one of the most actively traded stocks on the Toronto Stock Exchange with an average 10-day trading volume of over 4.4 million.
Fire stock has a 10-day average trading volume of 16.9 million.
The above figure certainly speaks of the growing usage/consumption of cannabis in the North American country in a post-Covid world.
@Kalkine Media 2020
The Supreme Cannabis Company Inc. (TSX:FIRE)
Based out of Toronto, The Supreme Cannabis Co Inc. produces and sells recreational cannabis. FIRE cannabis brands include BlissCo, Truverra, 7ACRES, Sugerleaf and Hiway.
The stock is down 3.27 per cent in the last one year. However, the scrips are up 68 per cent in the last one month. In 2020, the stock has advanced by more than 90 per cent.
Supreme Cannabis’ maintained a positive EBDITDA of C$3.6 million for the period ended December 31, 2020. Recreational net revenue recorded at C$12.7 million, an increase of 70 per cent quarter-over-quarter. The gain was attributed to higher sales and improved fulfillment.
Organigram (TSX:OGI)
Organigram Holdings was founded in 2013 and is a leading licensed cannabis and associated extract producer.
The stock price has returned 33 per cent in the last one year and 116 per cent in the last three months. It has advanced by 136 per cent year-to-date.
Organigram’s gross revenue for Q1 FY2021 stood at C$25.2 million, down11 per cent year-over-year.
